{"id":52275,"date":"2023-12-16T19:02:54","date_gmt":"2023-12-16T19:02:54","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years"},"modified":"2023-12-16T19:57:48","modified_gmt":"2023-12-16T19:57:48","slug":"montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years","title":{"rendered":"Montepuez rubies bring in \u20ac974M at auctions in nine years"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Mining company Gemfields announced on Thursday that the auctions of precious stones, namely rubies, mined in Montepuez,northern Mozambique, have already generated a total revenue of \u20ac974 million in nine years.<\/p>\n

In a statement, Gemfields, which leads Montepuez Ruby Mining (MRM), said that these 21 auctions, held since June 2014, \u201chave already generated\u201d US$1.049 million (\u20ac974 million) in total revenue.<\/p>\n

The last of these auctions took place between 20 November and 5 December, after 97 lots of rubies, comprising 239,591 carats, were presented to investors in Bangkok, generating total revenue of US$69.5 million from the trading of raw rubies of mixed quality.<\/p>\n

\u201cThe proceeds of this auction will be fully repatriated to MRM in Mozambique, with all royalties due to the government of Mozambique being paid on the total sale price achieved at the auction,\u201d said the Gemfields statement.<\/p>\n

The raw rubies sold in recent days were mined by Montepuez Ruby Mining, in Cabo Delgado, northern Mozambique, a company 75% owned by Gemfields and 25% by its Mozambican partner Mwiriti, and reached an average price of US$290.02 (\u20ac269) per carat.<\/p>\n

\u201cWe\u2019ve seen ruby prices at our auctions rise ever higher in recent years and our final 2023 auction further endorsed this trend. This auction showed that demand and the price of raw rubies are decidedly healthy. Gemfields\u2019 total auction revenue for 2023 is US$242 million [\u20ac224.6 million], the second highest in our history,\u201d said Adrian Banks, managing director of products and sales at Gemfields, quoted in the same press release.<\/p>\n

This latest auction also took Gemfields past the \u201cmilestone\u201d of US$2 billion (\u20ac1.856 billion) in accumulated sales at emerald and ruby auctions.<\/p>\n

\u201cAn achievement of which the Gemfields team and our stakeholders can be very proud, especially given the full remittance of these sales revenues to the countries of origin, and the payment of almost US$400 million [\u20ac371 million] in mineral royalties and corporate taxes to the governments of Mozambique and Zambia,\u201d adds Adrian Banks.<\/p>\n

Gemfields presents itself as a world leader in the extraction and marketing of coloured gemstones, also holding a 75% share in the Kagem emerald mine in Zambia, described as the largest emerald producing mine in the world.<\/p>\n

The Montepuez ruby mine in Mozambique is considered to be one of the most significant deposits of recently discovered rubies in the world.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Mining company Gemfields announced on Thursday that the auctions of precious stones, namely rubies, mined in Montepuez,northern Mozambique, have already generated a total revenue of \u20ac974 million in nine years. In a statement, Gemfields, which leads Montepuez Ruby Mining (MRM), said that these 21 auctions, held since June 2014, \u201chave already generated\u201d […]<\/p>\n","protected":false},"author":84,"featured_media":52274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-52275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nMontepuez rubies bring in \u20ac974M at auctions in nine years - Mozambique<\/title>\n<meta name=\"description\" content=\"Mining company Gemfields announced on Thursday that the auctions of precious stones, namely rubies, mined in Montepuez,n ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Montepuez rubies bring in \u20ac974M at auctions in nine years\" \/>\n<meta property=\"og:description\" content=\"Mining company Gemfields announced on Thursday that the auctions of precious stones, namely rubies, mined in Montepuez,n ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-16T19:02:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-16T19:57:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/12\/sm_1702743674.463202.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"602\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Montepuez rubies bring in \u20ac974M at auctions in nine years\",\"datePublished\":\"2023-12-16T19:02:54+00:00\",\"dateModified\":\"2023-12-16T19:57:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years\"},\"wordCount\":391,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/12\/sm_1702743674.463202.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/montepuez-rubies-bring-in-e974m-at-auctions-in-nine-years\",\"name\":\"Montepuez rubies bring in \u20ac974M at auctions in nine years - 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